Best Thread Correlation Trading - Basic Ideas and Strategies

NVP

Legendary member
37,515 1,980
Forex Diary 16th Sep 2020

My Fixstart FXCorrelator indicator is showing a steady week so far for GBP ...

Cable as good as any pair to be buying on the dips so far ....

 

Attachments

NVP

Legendary member
37,515 1,980
Forex Diary 18th Sep 2020

hey gang ...interesting week so far

my main FixStart indicator on the picture is available here ....

all of my other indicators are free except this one - where a NHS charitable donation is needed .....

why not help others whilst also helping yourselves
(instead of funding Trading academies and trainers in their expensive lifestyles)

red GBP is rocking bull all week
Green USD sits below the zero and selling all week
so cable is one of THE currencies to be buying all week so far (yep its that easy)

what else was worth trading all week ? .....look for another strong Currency and pick weaker ones to pair it with
(clue - the other Bull Currency starts with "J" )

Entries / Exits please ..........Neil ?

Jees you guys want blood for free !!!!

ok ive dumped a few standard indicators on the 1 hr chart here ...plus one of my specials i use personally
(nope no peeking allowed)

you have to decide how you will trade trending currencies

look for shallow pullbacks and attack retraces
look for moderate pullbacks and attack retraces
look for Deep pullbacks and attack retraces

your money and your choice ....i can assure you that different currency pairs will be offering different options to you ...so be careful .....

after some 20 years+ trading forex i'm pretty good at knowing what to look for based on the markets situation / patterns / correlations etc etc ......would be pretty sad if i didn't - right ?

as long as GBP stays above the zero line and USD stays below the Zero line i am happy to attack pull backs as deep as they come ....

see where the 7 RSI and even the 5,3,3 Stoch are falling below key levels ?.....all good hunting areas as long as your currencies are still holding to the weekly trends and zero line (as already mentioned)...

Then look for some basic price patterns for entry .....bull bar close or breach of prev high etc etc ....plenty to look at guys

Im not even going to talk about exits ...go online and google it and experiment ....we all have different preferences for that

Easy ? ............yep once you have a system

Profitable ? ........mainly yes ...nothing is perfect ...and only then if you follow your rules to the letter plus all the other things needed in Trading

if you look closely there are some cracking trades this week on Cable ....so hope you took them as this was an easy week so far ......and yes UJ was also a good pair ....and EJ was sweet as well .....

if you were chasing pairs on same sides of the Zero line this week on 1 hour TF's ....WHY ????

have a good weekend

N
 

Attachments

NVP

Legendary member
37,515 1,980
too easy this morning - markets real nice

GBP came off really well after early jostling ...look at USD, JPY (and CHF) blasting off into atmosphere - classic risk on play

100 pip range to sell cable .....classic !

indicator here

N
 

Attachments

NVP

Legendary member
37,515 1,980
Forex Diary 22nd Sep 2020

GBP takes a thumping early on in session .....how did I know to start selling it ?

its as clear as day - just look at the chart ! ....(get it here for a small donation to charity)

also - Google "Pullback trading" and start experimenting .....my indicators will already get you on the top 3-4 pairs to trade ...then set up something you like to pull the trigger .....

im not giving my customised stuff away for free on that subject - sorry it took me 20 years to refine and develop

N
 

Attachments

AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock